Following a startling $11.5 billion surge in FY 2021 and FY 2022, tax revenues for this year and next settle into a lower and slower growth pattern as global risks escalate. MTF projects that FY 2023 revenues will top the $39.62 billion benchmark by $75 million and grow to $40.06 billion in FY 2024, an increase of $366 million or approximately 1 percent over FY 2023.
January 24, 2023
FY 2024
FY 2023 and FY 2024 Tax Revenue Forecast – A Return to Normalcy?
Following a startling $11.5 billion surge in FY 2021 and FY 2022, tax revenues for this year and next settle into a lower and slower growth pattern as global risks escalate. MTF projects that FY 2023 revenues will top the $39.62 billion benchmark by $75 million and grow to $40.06 billion in FY 2024, an increase of $366 million or approximately 1 percent over FY 2023.
